To celebrate five years in business this month we wanted to share some of the lessons we've learned; five lessons in fact, one for each year. So this week, I'm going to post one lesson a day. Now these aren't any great insights into running a business, but they are lessons that have been really valuable to us... So who knows, they might be useful for you - or someone you know!
Lesson 1: Get some advice
Find someone with skills or experience you don't have and talk to them. Regularly. They don't need to be experts in your field (or even have any experience in it), but they do need to bring some experience to your business that you don't have.
It can seem like a big investment. But you need to remember it IS an investment. It is something that will bring a return to your business. And if you pay attention and learn from the experts then that investment will keep delivering a benefit for as long as you run your business.
To make sure you spend wisely, think about the areas where your knowledge is weak, or areas that are really crucial to success, and find someone who can help you with those issues.
There are two people we work with who have made a massive difference to our business. One brings general experience of running a business and the issues to look out for. The other has helped us to create and maintain an efficient business development process.
It's important to remember that these people are (probably) only giving you advice and guidance. They're not doing the job for you, just helping you to do it better. They're coaches, mentors, consultants, advisors - lots of titles to describe lots of different approaches. But whatever they call themselves, they can be very valuable - if you find the right ones.
Showing posts sorted by relevance for query five lessons. Sort by date Show all posts
Showing posts sorted by relevance for query five lessons. Sort by date Show all posts
Monday, 25 October 2010
Wednesday, 27 October 2010
Five years, five lessons: Lesson 3
Lesson 3: Time management
For me this is a lesson I'm still learning - and I really wish I started sooner!
Time is a valuable asset, and once it's gone you can't get it back, so it's really important you use it wisely. It's not about putting in the hours - lots of people work hard (i.e. long hours) - it's about making the best use of those hours. One of the first lessons I learned from one of the mentors we work with (See Lesson 1); work smarter, not harder. Make better use of the time you spend at work. Be more efficient with your time. If you can delegate or outsource an activity, do so. Why are you doing a particular task? Is it the right thing to be doing right now?
Now, I still have a lot of room for improvement on this. But when I am able to apply some time management discipline to my activity I really notice the difference. Could you make better use of your time? There are lots of people out there that can help. And books too. Spend some time looking in to it - it will be worth it!
You can read the previous lessons here:
Lesson 1: Get some advice
Lesson 2: Network
For me this is a lesson I'm still learning - and I really wish I started sooner!
Time is a valuable asset, and once it's gone you can't get it back, so it's really important you use it wisely. It's not about putting in the hours - lots of people work hard (i.e. long hours) - it's about making the best use of those hours. One of the first lessons I learned from one of the mentors we work with (See Lesson 1); work smarter, not harder. Make better use of the time you spend at work. Be more efficient with your time. If you can delegate or outsource an activity, do so. Why are you doing a particular task? Is it the right thing to be doing right now?
Now, I still have a lot of room for improvement on this. But when I am able to apply some time management discipline to my activity I really notice the difference. Could you make better use of your time? There are lots of people out there that can help. And books too. Spend some time looking in to it - it will be worth it!
You can read the previous lessons here:
Lesson 1: Get some advice
Lesson 2: Network
Friday, 29 October 2010
Five years, five lessons: Lesson 5
Lesson 5: You need customers
It sounds obvious, but you need customers. There are lots of different tasks and activities that you have to undertake as a business, but the most important is finding customers. If you're not making money you don't have a business, and you can only make money if you have customers.
So your priority should be - everyday - to make sure you have customers lined up to bring money into your business. Because if you don't, you will fail.
Click here, to read all of this weeks lessons.
So those are my lessons... What about yours? What one piece of business advice would you pass on? Add your thoughts below.
It sounds obvious, but you need customers. There are lots of different tasks and activities that you have to undertake as a business, but the most important is finding customers. If you're not making money you don't have a business, and you can only make money if you have customers.
So your priority should be - everyday - to make sure you have customers lined up to bring money into your business. Because if you don't, you will fail.
Click here, to read all of this weeks lessons.
So those are my lessons... What about yours? What one piece of business advice would you pass on? Add your thoughts below.
Thursday, 28 October 2010
Five years, five lessons: Lesson 4
Lesson 4: Use experts
Whenever possible, use an expert. If you don't have the skills to do a particular task or activity, find someone who does.
The DIY approach to business can be really attractive (especially to a new business) because it's cheap. But it's often a false economy. If you don't have the skills needed it will; a/ often take you longer to do it and; b/ not be to such a high standard.
For some things that doesn't really matter, but when it comes to more important tasks; like bookkeeping or building your website, the impact on your business can be more significant. If you're serious about building your business, then find the people who can help you to do that. They will help you to grow your business faster and more effectively. So you can enjoy the benefits of success sooner!
Take a look at the previous lessons here:
Lesson 1: Get some advice
Lesson 2: Network
Lesson 3: Time management
Whenever possible, use an expert. If you don't have the skills to do a particular task or activity, find someone who does.
The DIY approach to business can be really attractive (especially to a new business) because it's cheap. But it's often a false economy. If you don't have the skills needed it will; a/ often take you longer to do it and; b/ not be to such a high standard.
For some things that doesn't really matter, but when it comes to more important tasks; like bookkeeping or building your website, the impact on your business can be more significant. If you're serious about building your business, then find the people who can help you to do that. They will help you to grow your business faster and more effectively. So you can enjoy the benefits of success sooner!
Take a look at the previous lessons here:
Lesson 1: Get some advice
Lesson 2: Network
Lesson 3: Time management
Tuesday, 26 October 2010
Five years, five lessons: Lesson 2
Lesson 2: Network
Online; face-to-face; it doesn't really matter, as long as you get to know people. Business is built on relationships, and the sooner you build them, the sooner you will succeed.
The benefit from networking for us when we started wasn't in winning business (we got the odd piece of work), but in what we learned from the connections we made. Whether it was knowledge we could apply to our business, or introductions to companies with particular skills we needed (see Lesson 1), networking helped to accelerate our business.
But while it's not all about winning business, you do need a really clear understanding of why you're networking. It's very easy for it to become a bit of a social event, an opportunity to catch up with people and have a chat. And while that can be an important part of building a relationship, it's not necessarily the best use of your valuable time (but that's for another post).
So start with a clear idea of the kind of people you're looking for, maybe people with links or connections to a particular sector (or even a particular company of you want to be really specific), and remember to follow up with the people you meet. Because you never know, they might hold the key to your future success.
Online; face-to-face; it doesn't really matter, as long as you get to know people. Business is built on relationships, and the sooner you build them, the sooner you will succeed.
The benefit from networking for us when we started wasn't in winning business (we got the odd piece of work), but in what we learned from the connections we made. Whether it was knowledge we could apply to our business, or introductions to companies with particular skills we needed (see Lesson 1), networking helped to accelerate our business.
But while it's not all about winning business, you do need a really clear understanding of why you're networking. It's very easy for it to become a bit of a social event, an opportunity to catch up with people and have a chat. And while that can be an important part of building a relationship, it's not necessarily the best use of your valuable time (but that's for another post).
So start with a clear idea of the kind of people you're looking for, maybe people with links or connections to a particular sector (or even a particular company of you want to be really specific), and remember to follow up with the people you meet. Because you never know, they might hold the key to your future success.
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